Gold ticked higher on Monday as a retreat in the dollar made bullion more attractive for other currency holders, drawing further support from some safe-haven demand from China amid wide protests over its strict COVID-19 curbs.
Spot gold was up 0.3% at $1,761.49 per ounce, as of 0933 GMT. U.S. gold futures rose 0.4% to $1,761.10.
“The dollar turning a touch lower is helping gold prices now,” independent analyst Ross Norman said, adding if China COVID situation escalates quickly, it would be positive for the gold market.
Capital Ltd (LON:CAPD) provide complete exploration and production drilling solutions to customers within the global minerals industry, with a focus on the African markets.